Suppose total planned expenditures equal $100 billion when the value of the price level is 100. If the price level drops to 90, total planned real expenditures will equal
A. less than $100 billion.
B. more than $100 billion.
C. $100 billion.
D. None of these: Cannot be determined without additional information.
Answer: B
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What determines the income flows that households receive?
A) an agency of the Federal government B) what they choose to produce, how much is sold, and the price received when sold C) their ownership of factors of production, how much they sell in the factor markets, and the prices received when sold D) financial institutions such as banks E) what they choose to consume
The three major revenue sources for the federal government in order of decreasing percentages are individual income taxes, corporate taxes, and social security insurance
a. True b. False Indicate whether the statement is true or false